Capital Direct I Income Trust
Managed by Capital Direct Management Ltd.
Data as of: March 31, 2026 · View latest fund facts
This review is compiled by WOWA for informational purposes only and is not investment advice, an offer, or a solicitation. Figures are drawn from the manager's published materials as of the dates shown and may change. Returns are historical and do not guarantee future results. Verify all details with the manager or a licensed advisor before investing.
AUM
$683M CAD
2025 return
10.23%
LTV
55.6%
Management fee
1%
About Capital Direct I Income Trust
Capital Direct I Income Trust is an open-end investment trust governed by the laws of Ontario, holding a portfolio of residential mortgage loans across BC, Alberta, Ontario, and Atlantic Canada. The fund reported 68% first mortgage concentration, a weighted average LTV of 55.62%, and a 2025 net return of 10.23% as of Q1 2026.
The fund reports approximately $683M CAD in assets.
The portfolio has a meaningful mix of first and subordinate mortgage positions.
The portfolio is concentrated in Residential mortgages.
The portfolio is diversified across BC, Ontario and Alberta.
At a glance
| Assets under management (AUM) | $683M CAD |
| 2025 return | 10.23% |
| Overall LTV | 55.6% |
| First mortgages (as a % of the portfolio) | 68% |
| Property focus | Residential (100%) |
| Structure | Open-Ended Investment Trust |
| Investor access | Available to individual investors |
Capital Direct I Income Trust portfolio and performance
The portfolio is composed of residential mortgages (100%).
| Property Type | Share (%) |
| Residential | 100% |
Capital Direct I Income Trust has a focus on BC, with 42% of its mortgages located in BC, followed by Ontario (33%), Alberta (19%), Atlantic Canada (6%).
| Province/Region | Share (%) |
| Ontario | 33% |
| BC | 42% |
| Alberta | 19% |
| Atlantic Canada | 6% |
Capital Direct I Income Trust returns
| Calendar year | Net return |
| 2023 | 8.91% |
| 2024 | 10.13% |
| 2025 | 10.23% |
Capital Direct I Income Trust facts
Fund structure
| Structure | Open-Ended Investment Trust |
| Manager | Capital Direct Management Ltd. |
| Series | F |
| Latest data | March 31, 2026 |
Mortgage portfolio
| First mortgages | 68% |
| Overall LTV | 55.6% |
| Property focus | Residential |
| Leverage | Yes, the fund uses leverage. This means the fund borrows additional money and combines it with investor capital to fund more mortgages. Leverage can increase returns when the portfolio performs well, but it also adds interest costs and can magnify losses. |
Fees
| Management fee | 1% |
| Performance fee | 20% Maximum Income Participation |
Additional fund details
Returns shown are Class F annual returns after applicable fees and any discretionary reduction in the manager’s income participation. The 9.16% figure for the first quarter of 2026 is annualized based on income earned during the quarter and should not be interpreted as a year-to-date return. The management fee is 2% for Classes A and C and 1% for Class F. All classes are also subject to a maximum income-participation fee of 20%.
Who can invest in Capital Direct I Income Trust?
Available to individual investors
This fund is available to individual investors.
The minimum investment amount for accredited investors is $5,000.
The minimum investment amount through an advisor or dealer is $5,000.
About Capital Direct Management Ltd.
Capital Direct Management Ltd. manages Capital Direct I Income Trust, an open-ended Ontario investment trust established in 2006. The related Capital Direct mortgage-lending business has operated since 1997 and originates and services residential mortgages across British Columbia, Alberta, Ontario and Atlantic Canada. Capital Direct Financial Ltd. distributes units as an affiliated exempt market dealer.
Frequently asked questions
It invests in residential mortgages.
The fund reports a weighted-average LTV of 55.6%.
Yes. It is available to individual investors.
The fund is managed by Capital Direct Management Ltd..
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